Lead by the iPath Dow Jones-UBS Coffee Total Return Sub-Index ETN (NYSEArca: JO), which is up nearly 81% year-to-date, five of this year’s top-10 non-leveraged exchange traded products offer exposure to agriculture or soft commodities.

The iPath Dow Jones-UBS Softs Total Return Sub-Index ETN (NYSEArca: JJS) and the iPath Dow Jones-UBS Grains Total Return Sub-Index ETN (NYSEArca: JJG) are also on the list. The equity-based Market Vectors Agribusiness ETF (NYSEArca: MOO) is not, but MOO has the makings of a value play and has recently been showing signs of life. [Agribusiness ETF Could Rise Again]

Agriculture and soft commodities futures have been bolstered by poor weather in various parts of the world. For example, drought conditions in Brazil have sparked JO higher while a harsh winter in parts of the U.S. boosted wheat prices. [Brazil Drought Lifts Coffee ETNs]

However, the trickle down impact from the futures market to agriculture-related stocks, such as those held by MOO, can take a while to materialize.

The benefits for companies of rising commodities are often “delayed or not immediate,” Jake Dollarhide, the chief executive officer of Longbow Asset Management, told Elizabeth Campbell of Bloomberg. Dollarhide said MOO’s constituents can be considered value plays , adding “Eventually, they’ll follow agricultural prices higher.”

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